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- QUENTIN DEMPSTER. The ABC is now fighting for its survival (Speech delivered on 7 February 2019)
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- ERNST WILLHEIM. Secret Trials: The illegal bugging of the Timor Leste Cabinet and the extraordinary prosecution of Bernard Collaery and Witness K
- ABUL RIZVI. Is the Government walking both sides of the street on immigration?
- JOHN MENADUE. Asylum seekers are pouring into Australia in record numbers by air, but the media and politicians are not interested in the facts.
- PETER SAINSBURY. Sunday environmental round up, 17 February 2019 17 February 2019
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- FRANK BRENNAN, TIM COSTELLO, ROBERT MANNE, JOHN MENADUE. Boat Turnbacks and Medical Transfers. 15 February 2019
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Category Archives: Economy
A regular collection of links to writings and broadcasts in other media
Home ownership has become much less affordable. It is a major source of inequality both between generations and within generations. Housing cannot become more affordable without bringing down house prices relative to incomes. Labor’s tax proposals are intended to do … Continue reading
MUNGO MACCALLUM. Who could have predicted that Kenneth Hayne would turn out to be such an old softie?
For months the stern, uncompromising judicial figure has presided over his royal commission with imperial authority, a veritable Judge Dredd inspiring fear and trepidation among scores of witnesses ever wary that at any moment he could reach for the black … Continue reading
If you think the banking royal commission’s damning report means you’ll never again be overcharged or otherwise mistreated by a bank, you’re being a bit naive. If you’re hoping to witness leading bankers being dragged off to chokey, you’ll be … Continue reading
The New Zealand Prime Minister Jacinda Ardern has made a strong impact on the world stage with her vision of liberal progressive politics that promote wellness and kindness. Doubters and opponents say economic realities could defeat her.
The Banking Royal Commission’s Final Report has generated much froth and bubble in the media. Hayne has chosen to emphasise the sins of the finance sector in the ‘wealth management’ arena (financial advice, insurance, super – the last superficially). Media … Continue reading
MICHAEL PASCOE. Australia’s ‘pussycat’ superannuation regulators aren’t doing their jobs.( A repost from August 25 2018)
The list of failures continues to grow, the list of official bodies too weak, too chummy, too lacking fire-in-the-belly to help the millions of Australians unknowingly stuck in under-performing superannuation funds.
RICHARD DENNISS. Our regulators fail to protect the vulnerable from the greedy. Let’s find out why. ( A repost from 19 September 2018)
Neoliberalism’s best trick was convincing us that ‘empowering’ citizens to shop around would deliver better services at a lower cost.
STEPHEN LONG. Hayne’s findings shouldn’t be a shock; the banking scandals were decades in the making (ABC News 4 Feb.2019).
How did it come to this? How did we arrive at a situation where banks and financial houses slugged dead people with fees?
ADELE FERGUSON. The regulators failed bank customers but they are now being trusted to fix this mess. (SMH 5.2.2019)
After a year of shame and grovelling apologies, the day of reckoning finally arrived. For those Australians hoping for structural separation of the banks, an overhaul of the regulators or heads on sticks, royal commissioner Kenneth Hayne’s verdict would have been … Continue reading
After a year of front pages filled with the evidence of scandalous wrong doing, rip-offs and greed in our banking and financial services institutions, we finally have a roadmap from Commissioner Kenneth Hayne on how to solve the finance sector’s … Continue reading
ANDREW LINDEN, WARREN STAPLES. Hayne’s failure to tackle bank structure. (The Conversation 5.2.2019)
Hayne’s failure to tackle bank structure means that in a decade or so another treasurer will have to call another royal commission. Every 10 to 15 years it’s the same. Ever since financial deregulation in the 1980s we’ve had a finance industry scandal … Continue reading
STEPHEN LONG. This letter from the big banks helped shape the royal commission. ABC News 5 February 2019
It is a revelation that underscores the close relationship between the major banks and the Government.
The economy’s prospects are threatened by various risks from overseas – about which we can do little – and by continuing weakness in wage growth – about which the two sides contesting the May federal election have little desire to … Continue reading
The Coalition’s strategies for 2019’s election include reiterating Howard-Costello slogans. Australia’s 1996-2007 racist divisiveness is a factor while its economic policies copied decades of attacks (UK and USA) on social justice. But the sainted banks delivered the GFC just as … Continue reading
A regular collection of links to writings and broadcasts in other media
For months the Morrison Government has argued Labor’s controversial plan to raise more than $5 billion a year by scrapping refundable franking credits on dividends from shares is “not fair”.
This week the Prime Minister promised to return the Budget to surplus, massively reduce net government debt, and create 1.25 million jobs over the next five years. However, there was no attempt to substantiate these promises, nor to argue that … Continue reading
Inequality has risen in most of the advanced economies, including Australia. It is damaging both the fabric of our society and economic growth. The Government appears to acknowledge that it should pursue equality of opportunity, but not outcomes. However, the … Continue reading
There is a growing and unfortunate litany of corporate failures in Australia – and not just the banks and energy suppliers. There is wage theft on a large scale. Instead of addressing their own obvious failures the BCA accuses its … Continue reading
It’s the economy, stupid” – a slogan and a focus that largely won the US presidency for Bill Clinton in 1992. He then went on to reap the benefits of Bush senior’s economic management, not yet evident at the time … Continue reading
JOHN QUIGGIN. Socialist utopia 2050: what could life in Australia be like after the failure of capitalism?
From four-day weeks to unconditional basic income to free education, it’s possible to imagine a future where society’s focus has moved from consumption to quality of life.
The world is agog with the constantly changing state of play between the US and China on trade issues and also the possible outcomes of Brexit. Both have the high probability of affecting our economy.
As with most economic theories about the optimal way to proceed, there is a difference between theory and results. For example, do company tax cuts necessarily mean that companies will invest in new production? If demand is suppressed will they … Continue reading
Australian trade policy has dramatically changed over the last fifty years. What we now face is nothing like the situation we have been used to. The general public has little idea of the complexity and importance of trade negotiations, the … Continue reading
We see it almost every day in the media; rent-seekers extracting benefits for themselves through political influence and lobbying at the expense of the broader community. It has very little to do with markets. It is about political favours for … Continue reading
Malcolm Turnbull has made it clear that his mantra of ‘Jobs-and-Growth’ will be at the forefront of his campaign in the next election. This week he will be talking about the growth of a million jobs in 5 years, but … Continue reading
2019 is shaping up as the year we’ll be forced to face the fact we are building a National Broadband Network that simply isn’t good enough. It’s also the year our major telcos will start rolling out their capital-intensive 5G … Continue reading
Clearly, budget outcomes rely on two simple issues – income and expenditure. On the income side of the ledger, the Northern Territory is hugely reliant on our share of the Goods and Services Tax (GST). We have been gutted. On … Continue reading
When Marion Terrill, of the Grattan Institute, set out to find out how much commuting times had worsened in Sydney and Melbourne, she discovered something you’ll find very hard to believe. But it would come as no surprise to transport … Continue reading